Pulmonx, which makes minimally invasive medical devices for emphysema, withdrew its plans for an initial public offering on Friday. It originally filed in February 2020 with a proposed deal size of $86 million.
Rather than raise funds through an IPO, the company recently closed a $66 million financing round led by global life science investor Ally Bridge Group.
The Redwood City, CA-based company was founded in 1996 and booked $33 million in sales for the 12 months ended December 31, 2019. It had planned to list on the Nasdaq under the symbol LUNG. BofA Securities and Morgan Stanley were set to be the joint bookrunners on the deal.
